Concentrate on Financial education rather than Wealth.

[slapper]

While I won't say books and workshops and seminars are entirely worthless, I'd say anybody who truly desires to be financially responsible doesn't have to have all those things. For me, it's all a matter of common sense, character, values, responsibility.

Living life beyond your means isn't a matter of ignorance. It's a matter of discipline. Moreover, you don't have to attend a seminar to learn how to save. You only have to have the right mindset. If you always buy the latest iPhone at its first release but you're buried in debt, that's not because you missed reading a book. That's because you missed developing in yourself a sense of responsibility.

I disagree that "Bitcoin is one good way through which an individual can liberate their self from from poverty". You always have to go back to step one. Otherwise, you'll sell it after a little profit to book a ticket and a hotel for a nice vacation.

Systemic malfunction cannot be corrected by individual discipline. I have seen people spend their money like it was their last, go without meals to afford them, work to death, and still be worse off since rent went up 40 percent and their pay went up 3 percent.

The "right mindset" framing bothers me because it places all the weight on personal responsibility and ignores the fact that responsibility requires agency. When you are facing a decision between bad and worse, then that is constrained optimization. A buyer who purchases an iphone in debt may be making the only decision that does not seem like utter failure. We are social animals; our obvious poverty has actual expenses in terms of employment, relationships, psyche.

What strikes me about your Bitcoin point, is you've identified that financial windfalls fail without foundation, but then blamed the person, rather than ask why they lack foundation. When one has been in survival mode over years, his/her relationship with money is distorted. The research on poverty is obvious: the scarcity alters the decision because it must. It is impossible to think long-term when short-term is always burning. Character develops under conditions that allow its development.

[abhiseshakana]

Systemic malfunction cannot be corrected by individual discipline. I have seen people spend their money like it was their last, go without meals to afford them, work to death, and still be worse off since rent went up 40 percent and their pay went up 3 percent.

The "right mindset" framing bothers me because it places all the weight on personal responsibility and ignores the fact that responsibility requires agency. When you are facing a decision between bad and worse, then that is constrained optimization. A buyer who purchases an iphone in debt may be making the only decision that does not seem like utter failure. We are social animals; our obvious poverty has actual expenses in terms of employment, relationships, psyche.

What strikes me about your Bitcoin point, is you've identified that financial windfalls fail without foundation, but then blamed the person, rather than ask why they lack foundation. When one has been in survival mode over years, his/her relationship with money is distorted. The research on poverty is obvious: the scarcity alters the decision because it must. It is impossible to think long-term when short-term is always burning. Character develops under conditions that allow its development.

Personal responsibility and systemic constraints are not mutually exclusive, but rather two sides of the economic mechanism that have important points. However, the issue of financial responsibility cannot be understood from just one perspective because they are interconnected. Personal responsibility, character, and discipline are essential foundations for financial management. However, a person's ability to be financially responsible depends heavily on their economic latitude. Discipline can only be practiced if they still have options. When inflation occurs without a corresponding increase in income, a person enters survival mode.

When the price of basic necessities rises 40% while wages only increase 3%, "discipline" is no longer a moral issue, but a matter of survival. In situations like this, people don't buy iPhones because they don't know how to save, but rather because their consumption decisions arise from social and psychological pressures—the need to appear "adequate" in a society that measures self-worth by material possessions.Poverty changes the way a person thinks. Deprivation creates a scarcity mindset, which forces the brain to focus on the short term not because of a weak character, but because mental energy is exhausted from day-to-day survival. In such a situation, long-term thinking becomes a luxury. What we need to get answer is how to create socio-economic conditions where discipline can truly lead to progress, not just keep someone from drowning.

Bitcoin, savings, investments, or even financial education are all important, but they won't function optimally if the economic structure remains unequal. And conversely, fixing the system without building individual character will also create new dependencies. True financial freedom only emerges when both the structure and the individual are equally empowered: the system provides space, and the individual has the ability to move within it.

[Unknown Op]

Systemic malfunction cannot be corrected by individual discipline. I have seen people spend their money like it was their last, go without meals to afford them, work to death, and still be worse off since rent went up 40 percent and their pay went up 3 percent.

The "right mindset" framing bothers me because it places all the weight on personal responsibility and ignores the fact that responsibility requires agency. When you are facing a decision between bad and worse, then that is constrained optimization. A buyer who purchases an iphone in debt may be making the only decision that does not seem like utter failure. We are social animals; our obvious poverty has actual expenses in terms of employment, relationships, psyche.

What strikes me about your Bitcoin point, is you've identified that financial windfalls fail without foundation, but then blamed the person, rather than ask why they lack foundation. When one has been in survival mode over years, his/her relationship with money is distorted. The research on poverty is obvious: the scarcity alters the decision because it must. It is impossible to think long-term when short-term is always burning. Character develops under conditions that allow its development.

Personal responsibility and systemic constraints are not mutually exclusive, but rather two sides of the economic mechanism that have important points. However, the issue of financial responsibility cannot be understood from just one perspective because they are interconnected. Personal responsibility, character, and discipline are essential foundations for financial management. However, a person's ability to be financially responsible depends heavily on their economic latitude. Discipline can only be practiced if they still have options. When inflation occurs without a corresponding increase in income, a person enters survival mode.

When the price of basic necessities rises 40% while wages only increase 3%, "discipline" is no longer a moral issue, but a matter of survival. In situations like this, people don't buy iPhones because they don't know how to save, but rather because their consumption decisions arise from social and psychological pressures—the need to appear "adequate" in a society that measures self-worth by material possessions.Poverty changes the way a person thinks. Deprivation creates a scarcity mindset, which forces the brain to focus on the short term not because of a weak character, but because mental energy is exhausted from day-to-day survival. In such a situation, long-term thinking becomes a luxury. What we need to get answer is how to create socio-economic conditions where discipline can truly lead to progress, not just keep someone from drowning.

Bitcoin, savings, investments, or even financial education are all important, but they won't function optimally if the economic structure remains unequal. And conversely, fixing the system without building individual character will also create new dependencies. True financial freedom only emerges when both the structure and the individual are equally empowered: the system provides space, and the individual has the ability to move within it.

People people always think that rich people have money because they did fraud with the poor people and poor people are poor because they are innocent people and rich people create hurdles for the poor people. Many of the rich people are rich because they learned a lessons for the many years and they are doing investments on their learning day by day and they know that time will come when current knowledge will expire and we will need latest knowledge of the market and for this reason we have to be aware of the market And learn new skills and new knowledge which will provide comfort to us .Many people have money and they don't know how to use money to live stable life and they are losing this money on bad habits.

[Fortify]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

A basic school education really does not equip kids for the vast array of financial instruments out in the world that they need to be aware of in a decent amount of detail or they might fall into numerous traps that exist. Debt for example is generally to be avoided, but will often be taken on by the younger generation - however a 8% loan is bad, but 20% APR on a credit card or 30% interest from a payday lender is infinitely worse especially if it's compounded over several years. Even things like how does a credit card work and that it charges no fees as long as you pay it off every month is something that many people don't learn until later in life, they are simply told credit cards are scary instead, but they can be a very valuable tool if used correctly.

[Asiska02]

None of it matters so much in life we should concentrate more on what led us to this trap. Why is everyone all on the same page, is it all is of this earth? The chase is becoming too dry and unending, people risk time of quality rest to qualify for the expectations of the society. In a nutshell focus on what you can control, reading financial education should be on a hobby base than having to think that it'll lead to a bouyant wealth. It's a total waste of thoughts.

You made a valid point here but people think differently and apply these things differently in their daily lives. One thing for sure is that people tend to go for what works for them the most and not what the society thinks or what others think of them, and I thinks that’s the best way to escape yourself from enclosed beliefs molded there for years to guide your life which is not going to be productive. Do what works for you best and not criticize much what others do to make that financial freedom just like you as long as they’re doing it legally. Wealth is subjective and it does not really has a specific way to come to one, if it’s yours, even without finanacial literacy, you’ll achieve a lot through it.

[livingfree]

Wealth does not happen in an instant, the person accumulating wealth should be financially educated first so that he will be able to take leverage as much as possible. And when that happens, he will no longer feel uneasiness and doubt, because he knows well the thing about obtaining wealth and maximizing the process in less time.

Where there is financial literacy, accumulation of wealth easily follows. Unlike those who risk their life savings over an unsecured decision, not only they will commit failure but they will definitely lost all their life savings in just a minute.

And for that person to do the right thing, even after being financially educated what might happen first is to make a mistake. The lesson from that mistake is going to be taken seriously by that person.

So, the lesson from the mistake and with the financial education that they've learned from, that's going to set things for them.

Wealth can be stolen, knowledge and education can't be. It's actually a debate that if someone reaches the peak of their wealth and you'd ask them if they go back to zero and if they can go back to the peak, they'll proudly say yes because experience and knowledge they have acquired through the period of time.

[Viscore]

There is no instant success, everything comes with a definite process. If you want to be wealthy, you should first study how to be wealthy and financially secured. Knowing what is financial literacy and its clear advantages towards people who prioritize learning financial education create a big edge on hitting their financial success compared to those who are clueless on how financial literacy works.

Invest in your knowledge first, and follow what's need to be prioritized. Only by then you can easily process gaining and multiplying your wealth.

[HONDACD125]

There is no instant success, everything comes with a definite process. If you want to be wealthy, you should first study how to be wealthy and financially secured. Knowing what is financial literacy and its clear advantages towards people who prioritize learning financial education create a big edge on hitting their financial success compared to those who are clueless on how financial literacy works.

Invest in your knowledge first, and follow what's need to be prioritized. Only by then you can easily process gaining and multiplying your wealth.

Financial literacy is important, but so is having business management skills because you are going to need both of these to create wealth over time. Business management skills will allow you to run a business that you start efficiently, and financial literacy will help you manage your resources properly, so that you don't overspend on anything, and then have problems with other stuff in your business. Financial literacy will also help you keep your business and personal expenses separate because that's how things will be easily manageable.

Some people make the mistake of mixing their personal and business expenses, which is a very bad idea, because to have clear records about the expenses and the revenue, you need to have everything recorded separately to have a clear understanding of how the business is doing and if you mix everything up, you will have a hard time finding out how much revenue the business is making and how much remains after all the expenses for the business because you now have your personal expenses included in that as well. So, financial literacy is very much important.

[EFS]

As long as you don't have capital, it doesn't really matter what kind of education you have. If you're not starting your own business, you have to wait for others to choose you for a salaried job. If you don't understand economics, having money doesn't matter, you'll lose it at some point. The same is true in reverse. If you don't have money, no matter how well you understand economics, predict what to invest in or make accurate forecasts, none of it matters without capital.

[Darker45]

~snip~

Systemic malfunction cannot be corrected by individual discipline. I have seen people spend their money like it was their last, go without meals to afford them, work to death, and still be worse off since rent went up 40 percent and their pay went up 3 percent.

The "right mindset" framing bothers me because it places all the weight on personal responsibility and ignores the fact that responsibility requires agency. When you are facing a decision between bad and worse, then that is constrained optimization. A buyer who purchases an iphone in debt may be making the only decision that does not seem like utter failure. We are social animals; our obvious poverty has actual expenses in terms of employment, relationships, psyche.

What strikes me about your Bitcoin point, is you've identified that financial windfalls fail without foundation, but then blamed the person, rather than ask why they lack foundation. When one has been in survival mode over years, his/her relationship with money is distorted. The research on poverty is obvious: the scarcity alters the decision because it must. It is impossible to think long-term when short-term is always burning. Character develops under conditions that allow its development.

I'm coming from a country where there are extreme levels of systemic and structural oppression and injustice. The odds are always against the masses, and they seem insurmountable. But I don't believe it's enough excuse to be irresponsible, and deprive oneself of dignity in the process.

I'm not placing "all the weight on personal responsibility", but there are things beyond your control and things within your control. I have a rotten government, one that's beyond redemption. I'm not expecting any significant change or reform within my lifetime. However, I strongly believe it's within my faculties not to allow myself to be dragged to the bottom, to try surpassing what little expectation society has of me.

I think my people can learn a lot from Chinese immigrants here. They're now the rich entrepreneurs in a foreign land, but they were once complete aliens who did everything just to escape extreme poverty, famine, even the certainty of death from the mainland. They brought nothing except the will to live. I can't overemphasize the importance of character.

[Oshio-man]

Financial literacy will make you last longer in wealth than making money now, I was make to understand that nothing last forever in this world, but if you acquire this financial literacy it will lead you to achieve what will make investors to celebrate you for your achievement, Any wealth you inherited from your parents, it will not last like those that inherit financial knowledge from their parents because they will know what to do by investing in some potential assets that will make investors to begin to make progress in their environment, I think many investors will learn lesson from this to impact their children this financial literacy so that they will not regret when their parents leave this world.

[ImGenius]

I agree with your proposal. We all want to be rich in life but the problem is that we focus more on acquiring wealth but less on acquiring the knowledge of how to use money. No matter how much money comes, if we don't know how to use it properly, it will be lost in an instant. Our goal should be to acquire not just wealth but financial education. If money is lost, we can regain it with knowledge.

[retreat]

Financial education is quite important nowadays because having good financial knowledge allows someone to manage their money wisely, make better investment decisions, and avoid unnecessary debt. Without sound financial education, no matter how much money they earn, they can spend beyond their means and not be able to grow their money. However, this doesn't mean that money-making skills are unnecessary - it just means that both earning and managing money should go hand in hand. While knowing how to make money is important, it's crucial to have good financial education so that the money you earn can be managed well.

[Natalim]

None of it matters so much in life we should concentrate more on what led us to this trap. Why is everyone all on the same page, is it all is of this earth? The chase is becoming too dry and unending, people risk time of quality rest to qualify for the expectations of the society. In a nutshell focus on what you can control, reading financial education should be on a hobby base than having to think that it'll lead to a bouyant wealth. It's a total waste of thoughts.

You made a valid point here but people think differently and apply these things differently in their daily lives. One thing for sure is that people tend to go for what works for them the most and not what the society thinks or what others think of them, and I thinks that’s the best way to escape yourself from enclosed beliefs molded there for years to guide your life which is not going to be productive. Do what works for you best and not criticize much what others do to make that financial freedom just like you as long as they’re doing it legally. Wealth is subjective and it does not really has a specific way to come to one, if it’s yours, even without finanacial literacy, you’ll achieve a lot through it.

Financial literacy and wealth are not actually necessities in life, but they could be a great help in living life easier and more comfortable. However, wealth does not only limit to highly expensive and valuable properties, but it could also be family and good health. So I don't think it should be everyone's target goal to be financially educated in order to obtain wealth. If you are a hard working and skillful individual, and you're always motivated to gain new achievements, even without financial literacy, making wealth will still be possible. Consistency and resilience are the keys, if you don't quit throughout the process, you will definitely achieve something, and that can be seen as wealth, regardless if you are financially educated or not.

[Crypt0Gore]

It felt like we are still talking about the same thing, because financial education plays a critical role in wealth too, there is some research on this that indicates that higher financial literacy has everything to do with better financial decision making especially on the following.

* retirement planning.
* Savings rates.
* Debt management.
* Compound Interest.
* Inflation.

Why do you think that someone who suddenly get rich through luck mostly go broke in a very short time? Because they don't have the knowledge about financial education.

You can't retain Wealth without Financial education.

[JoyMarsha]

Life is all about planning, so it's your wealth. He who plans well at a young age, will reap the benefit at old age.

Financial literacy is an important factor that every human should have, as money is not plucked from trees, but our daily needs seem to be a necessity that we can't neglect. We have to plan how we go about that to avoid running into debt in the means of providing for ourselves or our family because that job or business you have at hand currently can one day not be available(the unknown can happen to it), but the investment made in Bitcoin or real estate can pass to your trusted family members

[Webutxo]

I agree with your proposal. We all want to be rich in life but the problem is that we focus more on acquiring wealth but less on acquiring the knowledge of how to use money. No matter how much money comes, if we don't know how to use it properly, it will be lost in an instant. Our goal should be to acquire not just wealth but financial education. If money is lost, we can regain it with knowledge.

What knowledge do you need on how to use the money if you can make the money? I don't think it's like that. If you can make a path way to make money, you just need a way to make sure you that the money keeps coming and manage it properly. Sometimes, people make mistake of jumping from one investments into another investment.

If you can comfortably make money from one investment and be able to multiply the investment, your aim is to be able to multiply that investment and not jump from one investment to another, you may regret some footsteps into another investment.

[justdimin]

It felt like we are still talking about the same thing, because financial education plays a critical role in wealth too, there is some research on this that indicates that higher financial literacy has everything to do with better financial decision making especially on the following.

* retirement planning.
* Savings rates.
* Debt management.
* Compound Interest.
* Inflation.

Why do you think that someone who suddenly get rich through luck mostly go broke in a very short time? Because they don't have the knowledge about financial education.

You can't retain Wealth without Financial education.

Weirdly enough, crypto is the only place even a moron could get rich. Back in the day I knew someone who knew absolutely nothing, this was in 2021 bull run, he knew absolutely nothing about crypto ,saw some tiktoks or whatever, and decided to yolo all his money, 8 thousand dollars, his entire savings, into some stupid thing. I knew him, not very well but he was friend of a friend, so I knew his existence and chatted once or twice. Turned his 8k into 1+ million dollars out of sheer luck with some dumb memecoin.

So it is clear that this would not work for most people, there is one in a million chance this could have happened, but there are absolutely zero investments out there aside from crypto where you can turn 8k into 1+ million, only in crypto and maybe in casinos.

[ringgo96]

Financial education is quite important nowadays because having good financial knowledge allows someone to manage their money wisely, make better investment decisions, and avoid unnecessary debt. Without sound financial education, no matter how much money they earn, they can spend beyond their means and not be able to grow their money. However, this doesn't mean that money-making skills are unnecessary - it just means that both earning and managing money should go hand in hand. While knowing how to make money is important, it's crucial to have good financial education so that the money you earn can be managed well.

I totally agree with your opinion, if we are born from a rich family but we cannot manage our finances then our life will only be trash when our wealth is depleted, so when we are still young, education in the financial sector is highly recommended and we must also have skills so that the income we get can be used well and not wasted in vain, so as you said both must go hand in hand, in this life we ​​must have a plan so that we can earn an income and we can achieve all of that with education.

[jems]

Life is all about planning, so it's your wealth. He who plans well at a young age, will reap the benefit at old age.

Financial literacy is an important factor that every human should have, as money is not plucked from trees, but our daily needs seem to be a necessity that we can't neglect. We have to plan how we go about that to avoid running into debt in the means of providing for ourselves or our family because that job or business you have at hand currently can one day not be available(the unknown can happen to it), but the investment made in Bitcoin or real estate can pass to your trusted family members

It's undeniable, I've seen many of my parents' experiences show that those who work hard in their youth will reap the rewards in their later years, This has given me immense motivation to earn more money and learn financial management from now on, as money management is crucial for both my present and future financial well-being.
And that's also why I invested in Bitcoin for future profits.